d. Give two examples of a spillover cost situation and explain why your examples are correct. e. Explain in detail, the economic effects of spillover costs. Provide details starting with the firm avoiding costs (how and why that happens) and conclude by explaining the nature of the market failure and what it really means. f. Explain in detail, how spillover costs are corrected and how those two approaches would actually work to solve the problem. Be very detailed.

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Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.